BUS330 Week 1 Quiz

Question 1

What acronym refers to the ratio of money generated in sales by a marketing campaign relative to the amount of money invested? (2.6)

UPS

USP

SWOT

LMAO

Correct!

ROMI

Question 2

The end of World War II and the unleashing of pent-up consumer demand marked the beginning of which era of marketing? (1.1)

Relationship Era

Correct!

Marketing Era

Mobile Era

Sales Era

Production Era

Question 3

What is the first step of the marketing process? (2.1)

Budgeting

Panicking

Hiring an Ad Agency

Correct Answer

Situation Analysis

Strategizing

Question 4

Which of the following represents a unique selling proposition? (2.3)

Ruffles is a brand of potato chips.

Ruffles rule!

Correct Answer

Ruffles have ridges.

Ruffles come in a bright colored bag.

Ruffles are better than other chips.

Question 5

Which of the following product descriptions reflects a service dominant logic? (1.3)

Gatorade is sold in many places you frequent.

Correct Answer

Gatorade is a thirst quencher.

Gatorade is a sweet, colorful liquid.

Gatorade tastes better than its competitors.

Gatorade is endorsed by many athletes.

Question 6

What is the essence of marketing 3.0? (1.2)

All marketing messages must be received at least 3 times to be effective.

Correct!

Customers are more than consumers; they are collaborators.

Marketing can be thought of as a simple 3 step process.

All brands need a minimum 3% market share to survive.

Marketing investment must deliver a minimum ROMI of $3.00.

Question 7

Which of the following is NOT a utility of the value of a product/service? (1.4)

Place

Correct Answer

Brand

Form

Time

Possession

Question 8

Which of the following is NOT a relevant factor to consider in an EXTERNAL analysis? (2.2)

Competition

Consumer trends

Macroeconomic conditions

Political environment

Correct Answer

Marketing budget

Question 9

What three things constitute the triple bottom line? (1.5)

Signed, sealed, delivered

Product, price and promotion

Correct Answer

Economic value, environmental health and social progress

Batting average, home runs, runs batted in

Revenue, income and profit

Question 10

Which of the following is NOT one of the four P’s of marketing? (1.4)

Product

Price

Place

Correct!

Positioning

Promotion